The Indian Government has levied Krishi Kalyan Cess, effective 1st June 2016 in addition to the Service Tax and Swachh Bharat Cess.
The revised Service Tax rate including Swachh Bharat Cess & Krishi Kalyan Cess will be applicable on premiums for traditional plans and on all charges levied for unit linked plans as mentioned below:
|Plan Type||Premium Type||Service Tax||Swachh Bharat
Tax + Cess
|Term||First Year &
|ULIP (All Charges)||First Year &
|Annuity (Single Premium)||First Year||1.4%||0.05%||0.05%||1.5%|
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